tax credits

(UPi/Bill Greenblatt)

Updated 9:39 a.m. Sept. 14

A smaller version of the wide-ranging tax credit bill received first-round approval Tuesday in the Missouri Senate.  GOP Senate leaders realized there was not enough support within their own caucus for passing $360 million in air cargo incentives, not to mention a threatened filibuster. 

(via Flickr/dbking)

The Missouri Senate has postponed debate on the massive tax credit bill which includes $360 million for a cargo hub at Lambert Airport in St. Louis.

Debate was set to begin this morning, but some senators asked President Pro-tem Rob Mayer (R, Dexter) for more time to read the 268-page bill, which he granted.

(U.S. Dept. of the Interior/National Register of Historic Places) / http://dnr.mo.gov/shpo/nps-nr/08001025.pdf

As today marks the beginning of this year's special session in the Missouri legislature, this story from our own Adam Allington, which aired on Marketplace yesterday is especially pertinent.

(UPI/Bill Greenblatt)

Updated at 12:38 p.m. with information on tax credits for those with special needs

Reporting from KCUR's Elana Gordon used in this report.

Missouri's low-income housing agency has approved $100 million in tax credits to help rebuild Joplin and the St. Louis County community of Berkeley after they were hit by tornadoes earlier this year.

(UPI/Bill Greenblatt)

Republican leaders of the Missouri General Assembly are criticizing Democratic Governor Jay Nixon’s decision to exclude land assemblage tax credits from the special session planned for next month.

In a letter to Nixon, House Speaker Steven Tilley (R, Perryville) and Senate President Pro-tem Rob Mayer (R, Dexter) said that his “personal agenda against an individual developer (Paul McKee)...has no place in this debate and should not impact the overall priority of tax credit reform.”

(UPI/Bill Greenblatt)

The economic development deal struck by lawmakers will cut one of Missouri’s most popular tax credits nearly in half.

The deal between House and Senate leaders would cut the amount of Historic Preservation tax credits issued each year from $140 million down to $80 million.

Ruth Keenoy with the non-profit Landmark Associates of St. Louis, Inc., says the smaller cap would be detrimental to Missouri’s economy.  She wants the incentives to be left as-is.

(Marshall Griffin/St. Louis Public Radio)

Updated 3:46 p.m.

St. Louis business leaders are praising a move by state lawmakers and the governor to take up a broad-ranging package of economic incentives.

Governor Nixon announced Thursday that he will call a special session in September to talk address jobs and economic development

Chief among the package is $360 million in tax incentives for Lamber-St. Louis International Airport.

(via Flickr/dbking)

Updated 5:26 p.m. with further detail and comment from lawmakers

Updated 2:24 p.m. with statement from office of Gov. Nixon on special session

A statement issued today from Scott Holste, a spokesperson for Mo. Gov. Jay Nixon, announces that the governor will call the Missouri legislature into special session.

The date of the special session has not been determined.

(Marshall Griffin/St. Louis Public Radio)

At least one Missouri legislative leader is so far saying "no" to Governor Jay Nixon's proposed top-level meeting to forge a jobs bill

House Speaker Steven Tilley said any such meeting would be premature while the House and Senate remain at odds over tax credit reform.

(UPI/Bill Greenblatt)

Governor Jay Nixon (D) is planning to host a meeting next week with Missouri lawmakers to broker an agreement on an economic development bill.

The State House and Senate adjourned in May without passing legislation that would have created several new tax breaks, among them a proposal that would have provided $360 million in incentives to transform Lambert Airport in St. Louis into an international air cargo hub.

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